The post How BlackRock and Larry Fink Are Leading the Crypto Revolution appeared on BitcoinEthereumNews.com.

BlackRock, the world’s largest asset manager, continues to dominate crypto headlines with its Bitcoin ETF developments, advocacy for tokenized assets, and CEO Larry Fink’s remarkable evolution from Bitcoin skeptic to advocate. From acquiring Bitcoin to calling for SEC approval of tokenized stocks and bonds, BlackRock is redefining the financial landscape which might end with a crypto revolution. Here are the BlackRock news and Larry Fink’s latest announcements. Larry Fink’s Journey: From Bitcoin Skeptic to Advocate Larry Fink’s stance on Bitcoin has transformed dramatically over the years. In 2017, he referred to Bitcoin as an “index of money laundering,” expressing deep skepticism about the cryptocurrency’s legitimacy. However, by 2024, Fink publicly acknowledged that he had been “wrong” about Bitcoin. He now describes it as “digital gold” and a “legitimate financial instrument” that offers long-term value and stability. BlackRock Bitcoin ETF: A Milestone in Institutional Adoption BlackRock’s recent acquisition of 11,000 Bitcoin for its iShares Bitcoin ETF signifies a pivotal moment for institutional cryptocurrency adoption. This move aligns with Fink’s newfound confidence in Bitcoin as a transformative asset class. The ETF’s success, with over $1 billion in trading volume, highlights growing investor interest in regulated crypto investment options. Nasdaq’s In-Kind Redemption Proposal: Enhancing Efficiency A recent Nasdaq proposal to the SEC aims to implement an “in-kind” creation and redemption process for BlackRock’s iShares Bitcoin ETF (IBIT). This mechanism would allow authorized participants to transact directly in Bitcoin rather than converting holdings to cash, reducing intermediaries and increasing operational efficiency. Notably, this process is exclusive to institutional participants, which further enhances the ETF’s appeal to large-scale investors. With BlackRock’s IBIT seeing inflows of $2 billion over six consecutive days, this upgrade is set to boost its operational and financial efficiency, making it an even more attractive option for institutional adoption. By FarSide –…

---

Filed under: News - @ January 26, 2025 1:25 pm